Almost every founder I've coached as a first-time founder could immediately raise their prices by 20% that day with very little downside and all the upside.

But it's just it's a fear. It's like a psychological fear. I went through it.

I didn't know how to test the market. I didn't have the confidence to run a pricing test. I didn't have the confidence to get told no.

It's easy when you've spent all your time in small bootstrapped operations where you can fit around the dining room table to just assume that like rules are trash, processes are trash, go fast, breakshould.

As you grow up in business, there are diminishing returns on operating that way.

If you can figure out how they are calculating the offer that they gave you, instead of just arbitrarily negotiating on the offer itself, you can figure out what the ingredients are and then figure out how to use them to your advantage. The advice that I give people regularly is that they're like, I'm not trying to hear your feelings, but your business probably isn't that complicated. Stop doing all sorts of crazy stuff and do things one at a time until it's sustainable when it works like it's it's simple it's just hard it's

it's simple it's just hard matt you sold your company for eight figures in 2020 what was that

company now it was called uplaunch it was a marketing platform for jims and how much did you sell for

uh the deal size was a little over 14 million 14 million yeah. Yeah. Okay. How did that deal come about? They called me randomly. So it was interesting. It was a private equity-backed company that purchased us. And I got two phone calls that both felt random within a two-week period. One of them was from an associate of the PE firm, which most founders get all the time. And I almost didn't take the call. I thought it was a telemarketer, you know, cars extended warranty or something. And then chat with them, whatever, you know, surface level conversation. And then one of the other portfolio companies, and I didn't even know that the PE firm was the backer of the portfolio company. I didn't even know the relationship yet. So at the same time, the portfolio company was calling us to explore partnership, which was like a super logical partnership in the space. And so we started the partnership route, chatted with them, figured out the connection. And then we started kicking tires. But it was a long road. It was like nine months. So they pursued you. Yeah. You weren't looking for an exit. No. I told them on the first phone call. I said, I'll sign your NDA and we can

talk, but I'm not selling to the company. It was a long road, man. It was like nine months. So they pursued you. Yeah. You weren't looking for an exit. No.

I told them on the first phone call.

I said, I'll sign your NDA and we can talk, but I'm not selling you to the company.

So just don't feel bad if I waste your time.

Whoops.

What was the revenue of the company?

I was a little over 1.5.

So it was like a 11x multiple. Okay. And on revenue. Yeah. 1.5 million dollar top line and you sold for 14.5.

Yeah. How does that math math? So like most people will do,

will do poor man's math and say five times profit. Yeah. Yeah. So I think it's it's the

incentive of the of the purchaser. I think there were a couple of things that worked in our favor.

Like they were a R.A.

Um, roll up of a lot of different fitness brands.

...